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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues                      
Gross premiums and policy fees $ 1,052,516 $ 1,045,148 $ 1,009,112 $ 896,165 $ 1,172,267 $ 1,021,152 $ 939,097 $ 923,686 $ 4,002,941 $ 4,056,202 $ 3,656,508
Reinsurance ceded (361,922) (303,732) (376,573) (53,318) (565,812) (330,201) (352,915) (331,517) (1,095,545) (1,580,445) (1,383,510)
Net premiums and policy fees 690,594 741,416 632,539 842,847 606,455 690,951 586,182 592,169 2,907,396 2,475,757 2,272,998
Net investment income 651,377 738,171 740,435 752,980 752,503 739,711 685,194 641,422 2,882,963 2,818,830 2,338,902
Realized gains (losses)                 (31,127) 177,086 (173,903)
Other income 184,172 115,484 111,364 127,170 119,168 115,679 104,172 78,136 538,190 417,155 321,019
Total revenues 1,474,869 1,633,227 1,504,440 1,684,886 1,438,904 1,666,026 1,419,093 1,364,805 6,297,422 5,888,828 4,759,016
Benefits and expenses                      
Benefits and settlement expenses, net of reinsurance ceded: (2020 - $882,537; 2019 - $1,244,379; 2018 - $1,185,929)                 4,900,537 4,256,062 3,511,252
Amortization of deferred policy acquisition costs and value of business acquired                 208,472 175,653 226,066
Other operating expenses, net of reinsurance ceded: (2020 - $229,408; 2019 - $229,851; 2018 - $210,816)                 774,889 773,665 774,110
Total benefits and expenses 1,431,271 1,560,615 1,298,599 1,593,413 1,357,747 1,426,185 1,233,370 1,188,078 5,883,898 5,205,380 4,511,428
Income before income tax 43,598 72,612 205,841 91,473 81,157 239,841 185,723 176,727 413,524 683,448 247,588
Income tax expense (benefit)                      
Current                 108,856 390,314 123,624
Deferred                 (37,694) (259,850) (69,963)
Total income tax expense 68 12,850 40,736 17,508 15,109 49,417 31,309 34,629 71,162 130,464 53,661
Net income $ 43,530 $ 59,762 $ 165,105 $ 73,965 $ 66,048 $ 190,424 $ 154,414 $ 142,098 $ 342,362 $ 552,984 $ 193,927